JEFF KAROUB / Associated Press
DEARBORN -- Ford Motor Co. Chief Executive Alan Mulally said Monday that the automaker's financial position and its product development efforts are helping it face a slumping market at home and a slowing one abroad.
"Everything you read in the paper is really pretty true," he told Inforum, a women's business group, in Ford's hometown. "It really is tough out there. ... But as bad as everything is, it's really going quite well."
He said the automaker has the financing in place to handle the U.S. auto sales slump. Ford mortgaged its factories, brand names and other items to secure a $23.4 billion line of credit to fund its restructuring plan and cover losses.
http://www.detnews.com/apps/pbcs.dll/article?AID=/20080908/AUTO01/809080427/1148
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